The Era of Fed Power Is Over. Prepare for a More Perilous Road Ahead

Wall Street Journal, Jan. 15, 2020–Greg Ip (subscription)
The Federal Reserve and other central banks have long been the unchallenged drivers of financial markets and the business cycle. “Don’t fight the Fed,” goes one Wall Street adage. That era is drawing to a close.
https://www.wsj.com/articles/shrinking-influence-of-central-banks-ends-decades-of-business-as-usual-11579103829?mod=hp_lead_pos5